Exited Flexsteel ($FLXS) for 31% Gain in 6 Months

Flexsteel Industries (FLXS) has been good to the Value Stock Guide portfolio delivering a little over 31% return in 5 and a half month of holding it. I initially entered the position at an average cost of $14.41/share on Oct 26, 2011. Today I sold the stock at $18.9624/share. The 31% return is just capital gains and does not include the dividends received (current yield is 2.2%).

The stock is still undervalued, obviously not to the extent that it was when I purchased it. I have been waiting for a good time to initiate position in another stock that I feel is a much better relative value and today’s market drop gave me the opportunity to do that. It also helped that FLXS stock has been pretty strong lately, including today, and I was able to exit my position pretty much close to the 52 week high.

I am also maintaining my exposure to this sector with another stock in the portfolio which has been doing quite well but has much more potential gains to come.

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